1 00:00:04,400 --> 00:00:04,760 Speaker 1: Ruby. 2 00:00:06,600 --> 00:00:09,640 Speaker 2: The views, information, and opinions expressed during this podcast are 3 00:00:09,640 --> 00:00:12,160 Speaker 2: solely those of the individuals involved and do not represent 4 00:00:12,160 --> 00:00:14,320 Speaker 2: those of Into It QuickBooks or any of its cornerstone 5 00:00:14,320 --> 00:00:17,640 Speaker 2: brands or employees. This podcast does not constitute financial, legal, 6 00:00:17,720 --> 00:00:20,439 Speaker 2: or other professional advice or services. No assurance is given 7 00:00:20,440 --> 00:00:23,440 Speaker 2: that the information is comprehensive, accurate, or free of errors, 8 00:00:23,480 --> 00:00:26,520 Speaker 2: and the information presented is for information purposes only. Into 9 00:00:26,560 --> 00:00:29,159 Speaker 2: It QuickBooks does not have any responsibility for updating or 10 00:00:29,160 --> 00:00:32,920 Speaker 2: revising any information presented. Listeners should verify statements before relying 11 00:00:32,920 --> 00:00:40,960 Speaker 2: on them. Welcome back everyone, and welcome to all our 12 00:00:41,080 --> 00:00:44,879 Speaker 2: new listeners. This is Mine the Business Small Business Success Stories, 13 00:00:44,920 --> 00:00:47,400 Speaker 2: a podcast brought to you by Into It QuickBooks and 14 00:00:47,479 --> 00:00:51,400 Speaker 2: Ruby Studio from iHeartMedia. I'm Jennise Torres, creator and host 15 00:00:51,479 --> 00:00:54,480 Speaker 2: of the award winning personal finance podcast Yokiero di Netro 16 00:00:54,720 --> 00:00:58,040 Speaker 2: and author of financially Lit, The Modern Latina's Guide to 17 00:00:58,120 --> 00:01:00,000 Speaker 2: level up your de netto and become financial. 18 00:01:01,160 --> 00:01:03,800 Speaker 1: And I'm Austin Hankwitz, host of The Rich Habits podcast 19 00:01:03,880 --> 00:01:06,000 Speaker 1: and co founder of with S Ventures. But you may 20 00:01:06,000 --> 00:01:09,000 Speaker 1: instead recognize me for my short form videos about personal 21 00:01:09,040 --> 00:01:10,600 Speaker 1: finance and investing on TikTok. 22 00:01:10,720 --> 00:01:13,280 Speaker 2: We're here for season three of the podcast, and Austin 23 00:01:13,319 --> 00:01:15,800 Speaker 2: and I are quite literally hitting the ground running from 24 00:01:15,840 --> 00:01:19,440 Speaker 2: where we left off last season. We're traveling all over Nashville, Tennessee, 25 00:01:19,480 --> 00:01:22,160 Speaker 2: and Tampa, Florida to talk with business owners in person 26 00:01:22,319 --> 00:01:24,520 Speaker 2: about the ups and downs of entrepreneurship. 27 00:01:24,640 --> 00:01:26,880 Speaker 1: Denise, I know you're from Tampa. You actually just bought 28 00:01:26,880 --> 00:01:29,600 Speaker 1: a house right outside of Tampa. I've lived in Nashville 29 00:01:29,600 --> 00:01:31,400 Speaker 1: now for the last six years, so this is going 30 00:01:31,440 --> 00:01:32,399 Speaker 1: to be a lot of fun. 31 00:01:32,560 --> 00:01:35,039 Speaker 2: But Austin, before we get into that, what have you 32 00:01:35,080 --> 00:01:36,319 Speaker 2: been up to since last season? 33 00:01:36,520 --> 00:01:40,160 Speaker 1: Oh my goodness, what a great question. So my dad 34 00:01:40,200 --> 00:01:43,840 Speaker 1: got to celebrate his seventy ninth birthday. I celebrated a 35 00:01:43,920 --> 00:01:47,319 Speaker 1: three year anniversary with my girlfriend. The Rich Habits podcast 36 00:01:47,360 --> 00:01:49,440 Speaker 1: has been trending in the right direction. We launched like 37 00:01:49,480 --> 00:01:52,000 Speaker 1: this private community where we do live streams. Now, what 38 00:01:52,080 --> 00:01:52,520 Speaker 1: about you? 39 00:01:52,800 --> 00:01:55,440 Speaker 2: That sounds like a super packed year, and I have 40 00:01:55,520 --> 00:01:59,280 Speaker 2: to say I've had one as well. I got engaged, 41 00:01:59,680 --> 00:02:03,800 Speaker 2: I got pregnant, I'm running a multiple six figure business. 42 00:02:03,920 --> 00:02:06,280 Speaker 2: My book came out, I went on a book tour, 43 00:02:06,600 --> 00:02:09,320 Speaker 2: and that's just the beginning of it. So twenty twenty 44 00:02:09,360 --> 00:02:11,119 Speaker 2: four was definitely a whirlwind. 45 00:02:11,840 --> 00:02:14,280 Speaker 1: Let's go. That sounds like we've both been up to 46 00:02:14,320 --> 00:02:17,120 Speaker 1: some really exciting stuff now. I can't wait to kick 47 00:02:17,160 --> 00:02:19,200 Speaker 1: off this first episode. Jennise, me either. 48 00:02:19,400 --> 00:02:21,600 Speaker 2: But before we meet our guests, Austin, do you remember 49 00:02:21,600 --> 00:02:23,160 Speaker 2: what it was like when you were just starting out 50 00:02:23,200 --> 00:02:25,880 Speaker 2: on your journey. Do you ever, like just look back 51 00:02:25,919 --> 00:02:28,640 Speaker 2: and reflect on those days and everything that's happened in between. 52 00:02:29,040 --> 00:02:32,520 Speaker 1: I really do. The biggest lesson learned reflecting on those 53 00:02:32,560 --> 00:02:36,520 Speaker 1: early days was just how important consistency is when you're 54 00:02:36,520 --> 00:02:40,320 Speaker 1: starting a personal brand, when you're starting any sort of business, 55 00:02:40,400 --> 00:02:43,880 Speaker 1: Just the consistency that goes into it, showing up being 56 00:02:43,919 --> 00:02:46,960 Speaker 1: the best version of yourself every single day to do 57 00:02:47,040 --> 00:02:49,880 Speaker 1: good business, and just thinking about that and reflecting upon that, 58 00:02:49,919 --> 00:02:52,440 Speaker 1: and how important that was Deanie in the first twelve 59 00:02:52,440 --> 00:02:54,280 Speaker 1: to twenty four months of my business, I say, was 60 00:02:54,280 --> 00:02:56,000 Speaker 1: the big key differentiator there. 61 00:02:56,280 --> 00:02:58,120 Speaker 2: Yeah. I think with the beginning of the year, it's 62 00:02:58,240 --> 00:03:00,440 Speaker 2: natural for us to want to look back as business 63 00:03:00,480 --> 00:03:03,240 Speaker 2: owners and see what worked and what didn't. I think 64 00:03:03,280 --> 00:03:06,120 Speaker 2: it's incredibly helpful to look back at those major milestones 65 00:03:06,120 --> 00:03:08,720 Speaker 2: and even mistakes, to remember those key lessons that you 66 00:03:08,800 --> 00:03:12,280 Speaker 2: learned and changes that you made or strategies that you implemented. 67 00:03:11,960 --> 00:03:14,600 Speaker 1: That is one hundred percent correct. Your journey as a 68 00:03:14,639 --> 00:03:17,280 Speaker 1: business owner is its own story, so going back and 69 00:03:17,320 --> 00:03:19,799 Speaker 1: looking at how you and your business have developed from 70 00:03:19,800 --> 00:03:22,720 Speaker 1: the very beginning until now can be super helpful. 71 00:03:23,080 --> 00:03:25,320 Speaker 2: Yeah. I think back to when I was first starting 72 00:03:25,320 --> 00:03:28,440 Speaker 2: out considering writing a book, how it wasn't even something 73 00:03:28,440 --> 00:03:30,920 Speaker 2: that was on my radar. And once I started talking 74 00:03:31,000 --> 00:03:33,800 Speaker 2: to my audience and realizing that there was this hunger 75 00:03:33,960 --> 00:03:36,440 Speaker 2: for some sort of resource that they could hold in 76 00:03:36,480 --> 00:03:39,400 Speaker 2: their hand versus like a podcast or social media content, 77 00:03:39,960 --> 00:03:42,840 Speaker 2: I knew it was time. And so, you know, it's 78 00:03:42,880 --> 00:03:44,720 Speaker 2: probably one of the hardest things I've done so far 79 00:03:44,800 --> 00:03:46,960 Speaker 2: as a business owner and a content creator, but it 80 00:03:47,000 --> 00:03:50,040 Speaker 2: really has paid dividends because now it allows my audience 81 00:03:50,080 --> 00:03:53,000 Speaker 2: to have an even deeper connection with my expertise as 82 00:03:53,000 --> 00:03:54,280 Speaker 2: a personal finance creator. 83 00:03:54,760 --> 00:03:57,960 Speaker 1: You are so inspiring, Janie, and I cannot wait to 84 00:03:58,120 --> 00:04:00,960 Speaker 1: dig deeper into the book that you've published. But enough 85 00:04:00,960 --> 00:04:06,160 Speaker 1: about us, let's introduce our guest, Scharise Rose of Potentia Therapeutics. 86 00:04:08,520 --> 00:04:11,200 Speaker 2: Charis has a doctorate of physical therapy after earning a 87 00:04:11,200 --> 00:04:14,960 Speaker 2: Bachelor of Science degree in microbiology from Louisiana State University. 88 00:04:15,160 --> 00:04:18,400 Speaker 2: After her education, she enjoyed working in a big hospital network, 89 00:04:18,520 --> 00:04:21,600 Speaker 2: but found herself wanting something with more flexibility. She also 90 00:04:21,720 --> 00:04:24,919 Speaker 2: noticed that therapy clinics tended to be overbooked and understaffed, 91 00:04:25,000 --> 00:04:28,640 Speaker 2: which created conditions for many patients that she found lacking. 92 00:04:28,960 --> 00:04:30,880 Speaker 2: After a move to Tampa, she was working in a 93 00:04:30,920 --> 00:04:33,360 Speaker 2: clinic that initially spoke to the more direct one on 94 00:04:33,360 --> 00:04:37,080 Speaker 2: one patient therapist scheduling, but over some time things shifted 95 00:04:37,120 --> 00:04:39,440 Speaker 2: and seemed to be trending in the direction of packing 96 00:04:39,480 --> 00:04:42,520 Speaker 2: schedules with multiple patients at a time. Determined to make 97 00:04:42,560 --> 00:04:46,120 Speaker 2: a change, Cherise took action. She bought out her former boss, 98 00:04:46,320 --> 00:04:49,280 Speaker 2: became the owner and clinic director, and renamed the clinic 99 00:04:49,360 --> 00:04:50,760 Speaker 2: Potentia Therapeutics. 100 00:04:51,120 --> 00:04:53,960 Speaker 1: Cherise immediately set out to improve the business and bring 101 00:04:54,000 --> 00:04:56,680 Speaker 1: it up to her standards. She expanded the team from 102 00:04:56,720 --> 00:04:59,840 Speaker 1: three to sixteen therapists and created a culture of exem 103 00:05:00,000 --> 00:05:03,080 Speaker 1: employer patient care, and focused on better work life balance 104 00:05:03,080 --> 00:05:06,520 Speaker 1: for her employees. Charis has operated Potentia for the last 105 00:05:06,560 --> 00:05:11,120 Speaker 1: eight years, winning Tampa Magazine's coveted Best of South Tampa Award. 106 00:05:11,160 --> 00:05:14,360 Speaker 1: For the last six years in a row. Currently, Charise 107 00:05:14,440 --> 00:05:17,360 Speaker 1: and her team of highly trained physical therapists at Potentia 108 00:05:17,640 --> 00:05:21,200 Speaker 1: continue to practice evidence based physical therapy and wellness allowing 109 00:05:21,240 --> 00:05:24,800 Speaker 1: for precise diagnosis and skillful management of movement dysfunction. 110 00:05:25,839 --> 00:05:29,400 Speaker 2: Cheris, We are here at Potential Therapeutics in the lovely 111 00:05:29,440 --> 00:05:34,800 Speaker 2: Tampa Bay area in your clinic. Welcome to mind the business. 112 00:05:34,839 --> 00:05:35,720 Speaker 2: So excited for you. 113 00:05:35,680 --> 00:05:36,599 Speaker 3: To be here. Thank you. 114 00:05:37,040 --> 00:05:39,840 Speaker 2: Now you have a very unique origin story, as you 115 00:05:39,960 --> 00:05:41,799 Speaker 2: bought this business from your boss. 116 00:05:41,960 --> 00:05:45,000 Speaker 4: I sure did so tell us about that. Okay, well, 117 00:05:45,080 --> 00:05:47,280 Speaker 4: I'm a physical therapist, but I believe in wellness. So 118 00:05:47,400 --> 00:05:49,919 Speaker 4: my history is that I was pre med major in college, 119 00:05:50,080 --> 00:05:52,280 Speaker 4: but then physical therapy drew me in more because it's 120 00:05:52,320 --> 00:05:55,200 Speaker 4: more conservative and its care. It's more treatment based and 121 00:05:55,200 --> 00:05:57,920 Speaker 4: wellness based. So when I became a physical therapist, I 122 00:05:57,920 --> 00:06:00,680 Speaker 4: would look for clinics that yearn from that as well. 123 00:06:01,120 --> 00:06:03,360 Speaker 3: And we have a weonness based model here in Tampa. 124 00:06:03,640 --> 00:06:07,040 Speaker 4: My boss also had the same concept based out of California, 125 00:06:07,120 --> 00:06:09,800 Speaker 4: So this is the first clinic outside of California that 126 00:06:10,080 --> 00:06:12,960 Speaker 4: had that kind of concept, and so we wanted to 127 00:06:13,000 --> 00:06:15,839 Speaker 4: create a space that allowed the patient to have WEONUS 128 00:06:15,839 --> 00:06:18,440 Speaker 4: based treatments as well as PT visits. So we look 129 00:06:18,480 --> 00:06:21,159 Speaker 4: at the continuum of care with the patient injury based 130 00:06:21,200 --> 00:06:23,640 Speaker 4: treatment BOSS, so keeping them well for years to come, 131 00:06:24,000 --> 00:06:27,880 Speaker 4: preventing injuries versus the treatment symptoms that they exist. And 132 00:06:27,960 --> 00:06:32,080 Speaker 4: so we decided to create that space here. My boss 133 00:06:32,160 --> 00:06:33,960 Speaker 4: was here for four years and I ran the spot 134 00:06:34,040 --> 00:06:36,240 Speaker 4: for four years as a clinic director, and we had 135 00:06:36,240 --> 00:06:39,280 Speaker 4: great success here. I worked in clinics before where you're 136 00:06:39,279 --> 00:06:41,960 Speaker 4: seeing a patient for a treatment session for an hour, 137 00:06:42,040 --> 00:06:44,320 Speaker 4: but so maybe two patients one hour, three, an hour, 138 00:06:44,400 --> 00:06:47,080 Speaker 4: four an hour sometimes, which is to me kind of outdated. 139 00:06:47,320 --> 00:06:49,480 Speaker 4: So we'd yearned for a space where could see a 140 00:06:49,480 --> 00:06:51,800 Speaker 4: patient one on one patient care without being double booked, 141 00:06:52,000 --> 00:06:54,120 Speaker 4: so that patient had that quality care with that therapist 142 00:06:54,160 --> 00:06:56,800 Speaker 4: for an hour. We launched that here as the former clinic. 143 00:06:57,600 --> 00:07:00,839 Speaker 4: And so when he wanted to fold into to the 144 00:07:01,440 --> 00:07:05,000 Speaker 4: kind of issues existing with insurance based care, I want 145 00:07:05,040 --> 00:07:07,560 Speaker 4: to keep the same practicing one on one care, so 146 00:07:07,680 --> 00:07:11,600 Speaker 4: I decided to consider buying him out and launching my 147 00:07:11,640 --> 00:07:13,960 Speaker 4: own space. When he wanted to revert back to the 148 00:07:14,000 --> 00:07:16,280 Speaker 4: old ways of doing physical therapy. 149 00:07:17,000 --> 00:07:18,920 Speaker 2: Yeah, so it sounds like there was a difference in 150 00:07:18,960 --> 00:07:23,040 Speaker 2: philosophies about how to approach your client experience, and so 151 00:07:23,320 --> 00:07:25,600 Speaker 2: would you say that's the main driver for wanting to 152 00:07:25,640 --> 00:07:28,200 Speaker 2: go into business for yourself versus wanting to continue to 153 00:07:28,240 --> 00:07:29,000 Speaker 2: work for someone else. 154 00:07:29,120 --> 00:07:29,520 Speaker 3: That's right. 155 00:07:29,560 --> 00:07:31,840 Speaker 4: I wanted to create a space that I can love 156 00:07:31,920 --> 00:07:34,400 Speaker 4: and thrive in. And for so many years we didn't 157 00:07:34,400 --> 00:07:37,320 Speaker 4: have a voice as therapist. We worked for big companies, hospitals, 158 00:07:37,800 --> 00:07:41,320 Speaker 4: large chains that maybe you were a number to the employer, 159 00:07:41,440 --> 00:07:43,560 Speaker 4: but not really a face or a name. And so 160 00:07:43,560 --> 00:07:45,480 Speaker 4: I want to create a space where the therapists actually 161 00:07:45,840 --> 00:07:48,160 Speaker 4: we're seen and heard and we could practice as the 162 00:07:48,160 --> 00:07:50,200 Speaker 4: clinches we wanted to be and thrive to be. And 163 00:07:50,280 --> 00:07:52,040 Speaker 4: so we did that in the space and I feel like, oh, 164 00:07:52,040 --> 00:07:54,400 Speaker 4: my therapists, my coworkers are my friends, They're a family 165 00:07:54,480 --> 00:07:57,200 Speaker 4: to me, and we create a space where patients feel 166 00:07:57,240 --> 00:07:58,200 Speaker 4: loved and cared for. 167 00:07:58,600 --> 00:08:00,720 Speaker 2: You know, I really like that whole list approach because 168 00:08:00,720 --> 00:08:04,280 Speaker 2: in my own experience having physical therapy, I have felt 169 00:08:04,280 --> 00:08:05,920 Speaker 2: in the past like it's kind of just like they 170 00:08:05,960 --> 00:08:08,000 Speaker 2: want you in and out as quickly as possible, and 171 00:08:08,040 --> 00:08:10,960 Speaker 2: there's not really this emphasis on maybe like. 172 00:08:10,960 --> 00:08:12,160 Speaker 3: Keeping you out of the office. 173 00:08:12,200 --> 00:08:13,680 Speaker 2: It's almost like they want you to keep coming back, 174 00:08:13,720 --> 00:08:15,720 Speaker 2: which makes sense because you know every time you come 175 00:08:15,800 --> 00:08:19,640 Speaker 2: you get paid. But also if I'm not making modifications 176 00:08:19,640 --> 00:08:22,840 Speaker 2: in like how I'm taking care of myself, it's almost 177 00:08:22,880 --> 00:08:25,760 Speaker 2: like you're on a hamster wheel of just continuous care 178 00:08:25,840 --> 00:08:28,000 Speaker 2: where I don't necessarily want to be in pain all 179 00:08:28,040 --> 00:08:28,920 Speaker 2: the time forever. 180 00:08:29,480 --> 00:08:30,160 Speaker 3: I agree with you. 181 00:08:30,960 --> 00:08:33,960 Speaker 1: I think a really interesting statistic right now is that 182 00:08:34,000 --> 00:08:37,640 Speaker 1: there are about four million baby boomers that retire every 183 00:08:37,679 --> 00:08:39,920 Speaker 1: single year, and a lot of these baby boomers are 184 00:08:40,000 --> 00:08:42,720 Speaker 1: small business owners, and they don't really have these succession plans, 185 00:08:43,080 --> 00:08:46,680 Speaker 1: and so sometimes what happens is someone who is interested 186 00:08:46,760 --> 00:08:49,240 Speaker 1: in running a small business, a locally owned business, will 187 00:08:49,280 --> 00:08:52,640 Speaker 1: go and they'll buy this business, right And what's wild 188 00:08:52,679 --> 00:08:56,000 Speaker 1: about that is they have no idea nine times out 189 00:08:56,000 --> 00:08:58,160 Speaker 1: of ten how to run a business for themselves. So 190 00:08:58,200 --> 00:09:01,000 Speaker 1: I'm curious, what were some of the specific challenges that 191 00:09:01,120 --> 00:09:05,880 Speaker 1: you went through as it relates to taking over a business. 192 00:09:06,280 --> 00:09:08,600 Speaker 3: Okay, yes, I'm a clinician first business owner. 193 00:09:08,640 --> 00:09:11,240 Speaker 4: Second, so this was something I say fell into my 194 00:09:11,320 --> 00:09:13,880 Speaker 4: lap and it was just luck met opportunity at the 195 00:09:13,880 --> 00:09:16,079 Speaker 4: same time. But I also had a vision for this. 196 00:09:16,200 --> 00:09:19,040 Speaker 4: The funny story is that the name Potentia. I met 197 00:09:19,080 --> 00:09:22,600 Speaker 4: with my lawyer about four years prior to develop a LLC. 198 00:09:23,240 --> 00:09:24,640 Speaker 4: I didn't know what the LC would be, but I 199 00:09:24,720 --> 00:09:26,600 Speaker 4: knew the name would be Potentia at some point. And 200 00:09:26,640 --> 00:09:29,480 Speaker 4: then four years later came opportunity with my former company 201 00:09:29,520 --> 00:09:32,000 Speaker 4: to buy them out and change that name to Potentia. 202 00:09:32,080 --> 00:09:34,000 Speaker 4: So it was always in my mind that would create 203 00:09:34,040 --> 00:09:36,240 Speaker 4: my own space in some kind of way, but I 204 00:09:36,240 --> 00:09:38,600 Speaker 4: didn't know how I would do it. So fast forward 205 00:09:38,640 --> 00:09:41,240 Speaker 4: to four years later, when the other company was here, 206 00:09:41,280 --> 00:09:43,079 Speaker 4: I decided to buy them out. I did not know 207 00:09:43,160 --> 00:09:45,720 Speaker 4: much about business, but I did have a lot of 208 00:09:45,760 --> 00:09:48,000 Speaker 4: patients of mine and friends and family in the business 209 00:09:48,160 --> 00:09:50,400 Speaker 4: world and finance and. 210 00:09:50,200 --> 00:09:52,400 Speaker 3: In hospital administration that can help me. 211 00:09:52,960 --> 00:09:56,600 Speaker 4: So I met with two gentlemen before designed to buy 212 00:09:56,600 --> 00:09:59,240 Speaker 4: the company when was a CEO of a hospital retired 213 00:09:59,280 --> 00:10:01,640 Speaker 4: for ten years, worked in the business for thirty years 214 00:10:01,800 --> 00:10:04,360 Speaker 4: or more. And my husband's uncle who's a VP of 215 00:10:04,360 --> 00:10:07,080 Speaker 4: a large bank. And met with both of them and 216 00:10:07,280 --> 00:10:10,120 Speaker 4: talked about my ideas for the business here, and they 217 00:10:10,520 --> 00:10:13,320 Speaker 4: looked at all my data, my numbers, and said it's possible. 218 00:10:13,760 --> 00:10:15,680 Speaker 4: So I think one thing I took away from that 219 00:10:15,720 --> 00:10:19,199 Speaker 4: situation is that knowing to have a team around you that. 220 00:10:19,120 --> 00:10:22,040 Speaker 3: Knows what they're doing, so know how to hire your 221 00:10:22,040 --> 00:10:24,520 Speaker 3: team that supports you. And that's what I did well. 222 00:10:24,640 --> 00:10:27,160 Speaker 4: I think I just found people in my circle who 223 00:10:27,679 --> 00:10:30,720 Speaker 4: were my champion and also believe in the concept and 224 00:10:30,800 --> 00:10:32,240 Speaker 4: also gave me the truth. 225 00:10:34,200 --> 00:10:37,440 Speaker 1: So that makes a lot of sense. Now. Tactically speaking, 226 00:10:37,840 --> 00:10:41,040 Speaker 1: you take over in existing business. That business has customers, 227 00:10:41,320 --> 00:10:44,960 Speaker 1: it has protocol, it has existing software. Talk to me 228 00:10:45,160 --> 00:10:48,320 Speaker 1: about how you adapted to some of these changes that 229 00:10:48,679 --> 00:10:50,520 Speaker 1: might have been different, and then how did you keep 230 00:10:50,559 --> 00:10:53,280 Speaker 1: your customers since they were so I'm sure used to 231 00:10:53,320 --> 00:10:53,920 Speaker 1: something different. 232 00:10:54,679 --> 00:10:57,040 Speaker 4: Funny story is that we did have Yes, we maintained 233 00:10:57,040 --> 00:10:59,120 Speaker 4: the same space. So one thing we did well was 234 00:10:59,360 --> 00:11:01,400 Speaker 4: we did not move. We had the same space. We 235 00:11:01,520 --> 00:11:04,640 Speaker 4: just changed the name our signage and patients who were 236 00:11:04,720 --> 00:11:07,760 Speaker 4: former patients of ours for years would drive by and say, 237 00:11:07,760 --> 00:11:10,640 Speaker 4: you know, I need therapy, but that name looks different, 238 00:11:10,679 --> 00:11:13,040 Speaker 4: but I think I went there four years ago. And 239 00:11:13,080 --> 00:11:15,360 Speaker 4: so they walk in and they become our patient again 240 00:11:15,360 --> 00:11:17,880 Speaker 4: and say, that's sure. You know she was my therapist. 241 00:11:18,280 --> 00:11:20,319 Speaker 4: We had new therapists at the time, but they believed 242 00:11:20,400 --> 00:11:22,600 Speaker 4: in what we did before and knew that we had 243 00:11:22,679 --> 00:11:26,680 Speaker 4: quality care, and so I maintain my address, my fax numbers, 244 00:11:26,720 --> 00:11:28,480 Speaker 4: my phone numbers, so if they called the same number 245 00:11:28,480 --> 00:11:30,640 Speaker 4: even though it was formerly the other name, they knew 246 00:11:30,640 --> 00:11:31,520 Speaker 4: it was still therapy. 247 00:11:31,840 --> 00:11:34,520 Speaker 3: And so my patients just followed us. We did not 248 00:11:34,960 --> 00:11:36,120 Speaker 3: maintain some insurers. 249 00:11:36,200 --> 00:11:39,840 Speaker 4: We only kept Medicare and Tricare based on reimbursement purposes. 250 00:11:39,880 --> 00:11:42,320 Speaker 4: A lot of the insurers don't pay very well when 251 00:11:42,320 --> 00:11:44,640 Speaker 4: it comes to reimbursements, so we had to make sure 252 00:11:44,679 --> 00:11:47,280 Speaker 4: we were getting enough for our patient visits, to maintain 253 00:11:47,280 --> 00:11:49,600 Speaker 4: a clinic space and to not fold, and so we 254 00:11:49,679 --> 00:11:53,760 Speaker 4: decided to defer some insurance contracts which weren't open at 255 00:11:53,760 --> 00:11:56,240 Speaker 4: the time, and kept on two contracts with that said, 256 00:11:56,280 --> 00:11:58,679 Speaker 4: those people who were patients of ours who had at 257 00:11:58,760 --> 00:12:02,480 Speaker 4: Neblue Crossbow Shield signa knew that we were great therapists 258 00:12:02,520 --> 00:12:04,320 Speaker 4: and decided to go cash pay with us and stay 259 00:12:04,360 --> 00:12:06,800 Speaker 4: with us so they would pay higher rates for better care. 260 00:12:07,120 --> 00:12:08,960 Speaker 4: A patient of mindset to me, he says, Listen, why 261 00:12:09,000 --> 00:12:11,880 Speaker 4: would I go to another site and another physicallypity clinic 262 00:12:11,920 --> 00:12:14,839 Speaker 4: if I'm paying for my copay for that hour, but 263 00:12:14,840 --> 00:12:17,400 Speaker 4: I'm double booked to other patients, So use me for 264 00:12:17,440 --> 00:12:19,400 Speaker 4: an hour. You get me better in one visit. That's 265 00:12:19,400 --> 00:12:21,200 Speaker 4: one visit a week versus three busits a week somewhere 266 00:12:21,200 --> 00:12:23,839 Speaker 4: else where. I'm not feeling better. So he chose to 267 00:12:23,880 --> 00:12:26,240 Speaker 4: stay with us, and that's what most people do all 268 00:12:26,240 --> 00:12:27,520 Speaker 4: the time with our clinic space. 269 00:12:27,679 --> 00:12:30,360 Speaker 1: Talk to me about the branding, right, I think a 270 00:12:30,400 --> 00:12:33,360 Speaker 1: lot of small business owners listening right now are either 271 00:12:33,440 --> 00:12:35,720 Speaker 1: trying to figure out the name or their business. Maybe 272 00:12:35,720 --> 00:12:38,319 Speaker 1: they just acquired a business that exists and they want 273 00:12:38,320 --> 00:12:41,920 Speaker 1: to rebrand it. How did you approach rebranding this existing 274 00:12:42,000 --> 00:12:44,800 Speaker 1: business and what does the new branding mean to you? 275 00:12:45,160 --> 00:12:47,480 Speaker 1: And what type of customers do you hope to attract 276 00:12:47,520 --> 00:12:48,240 Speaker 1: with this branding. 277 00:12:49,040 --> 00:12:51,800 Speaker 4: Yes, I can start with the name Potentia means power 278 00:12:51,800 --> 00:12:54,040 Speaker 4: in Latin. I was looking for a nice, strong name 279 00:12:54,080 --> 00:12:56,080 Speaker 4: and I could draw all kinds of patients to our clinic. 280 00:12:56,200 --> 00:12:58,720 Speaker 4: So I wanted patients to feel powerful in their treatments 281 00:12:59,000 --> 00:13:02,080 Speaker 4: and powerful in their advocacy for their health. I think 282 00:13:02,080 --> 00:13:04,640 Speaker 4: having that branding potential, just being powerful and the way 283 00:13:04,679 --> 00:13:08,040 Speaker 4: they apply themselves as therapists and how we treat our 284 00:13:08,080 --> 00:13:09,400 Speaker 4: patients was like builtimin Cole. 285 00:13:09,679 --> 00:13:13,040 Speaker 2: That's amazing. It really is about empowering the Yes, yes, 286 00:13:13,120 --> 00:13:16,439 Speaker 2: I love that. So you're obviously working here previously as 287 00:13:16,480 --> 00:13:19,440 Speaker 2: an employee. What's it feel like to get your first 288 00:13:19,480 --> 00:13:22,200 Speaker 2: paycheck as an owner and how does that change? What 289 00:13:22,240 --> 00:13:24,680 Speaker 2: did you have to adjust in order to make that transition? 290 00:13:25,080 --> 00:13:27,520 Speaker 4: Well, I know, launching the clinic in the first year, 291 00:13:27,600 --> 00:13:29,320 Speaker 4: you know, you want to make sure you're doing well, 292 00:13:29,400 --> 00:13:32,480 Speaker 4: you're staying profitable, and making sure that you have all 293 00:13:32,480 --> 00:13:34,600 Speaker 4: the teas, cross eyes, dot it, and I just made 294 00:13:34,640 --> 00:13:36,640 Speaker 4: sure I wanted to take care of my employees first 295 00:13:36,720 --> 00:13:40,000 Speaker 4: and the business first. So like I definitely paid myself, 296 00:13:40,480 --> 00:13:42,720 Speaker 4: maybe less than I would have paid myself initially, but 297 00:13:43,120 --> 00:13:45,040 Speaker 4: once that first year past, I knew that we can 298 00:13:45,320 --> 00:13:47,280 Speaker 4: be successful in the business and everyone would win. 299 00:13:47,679 --> 00:13:49,319 Speaker 3: And I want to make sure everyone's. 300 00:13:49,000 --> 00:13:51,440 Speaker 4: Taking care of so when the business thrives and when 301 00:13:51,440 --> 00:13:53,040 Speaker 4: everyone is happy, we all thrive. 302 00:13:53,400 --> 00:13:56,880 Speaker 1: Considering. This episode is very much focused on reflecting over 303 00:13:56,920 --> 00:13:58,920 Speaker 1: the last several years of the business owner. Now you've 304 00:13:58,920 --> 00:14:00,640 Speaker 1: been in the space for I think you said it 305 00:14:00,679 --> 00:14:03,080 Speaker 1: was eleven years and you've owned it for seven. Yes, 306 00:14:03,360 --> 00:14:05,920 Speaker 1: So kind of staying on this theme of reflecting back, 307 00:14:06,320 --> 00:14:09,199 Speaker 1: can you share with me as we reflect back? Call 308 00:14:09,240 --> 00:14:13,240 Speaker 1: it seven years ago before this was a Sharis owned clinic. Right, 309 00:14:13,320 --> 00:14:16,240 Speaker 1: You're just about to walk into this new amazing chapter 310 00:14:16,280 --> 00:14:20,120 Speaker 1: of your life. What emotions were going on in your head? 311 00:14:20,160 --> 00:14:22,520 Speaker 1: How did you feel, what were you scared of? What 312 00:14:22,560 --> 00:14:26,680 Speaker 1: were you excited about? Walk me through the feeling of day. 313 00:14:26,520 --> 00:14:27,920 Speaker 3: One day one. 314 00:14:29,080 --> 00:14:31,920 Speaker 4: Day one was actually pretty transitional. It was a quick turnaround. 315 00:14:32,000 --> 00:14:35,080 Speaker 4: I remember closing as the previous business on a Thursday 316 00:14:35,120 --> 00:14:37,200 Speaker 4: and then opening us the next business on a Tuesday. 317 00:14:37,320 --> 00:14:40,440 Speaker 4: There's really no change in like the space. But I 318 00:14:40,520 --> 00:14:43,120 Speaker 4: knew that I wanted it to succeed. I must say 319 00:14:43,160 --> 00:14:44,960 Speaker 4: I'm a type of individual who jumps in first and 320 00:14:44,960 --> 00:14:47,040 Speaker 4: think second. I assume there's going to be a yes. 321 00:14:47,320 --> 00:14:49,840 Speaker 4: I never expect to know if there's a no. I 322 00:14:49,880 --> 00:14:51,720 Speaker 4: try to convince someone that it should be a yes. 323 00:14:51,920 --> 00:14:55,400 Speaker 4: So I just was very optimistic in jumping in the clinic. 324 00:14:55,440 --> 00:14:57,200 Speaker 4: I just thought we have the tools. I mean, in 325 00:14:57,200 --> 00:15:01,320 Speaker 4: this for almost twenty years and there is no quality care, 326 00:15:01,440 --> 00:15:03,320 Speaker 4: and as long as we have all the administraty of 327 00:15:03,360 --> 00:15:06,760 Speaker 4: tools in place, then we can succeed. I know there's 328 00:15:06,760 --> 00:15:08,880 Speaker 4: a little bit of fear, maybe a little bit of fear, 329 00:15:08,920 --> 00:15:10,920 Speaker 4: but to me that drives me that means I should 330 00:15:10,920 --> 00:15:13,880 Speaker 4: be attempting it, attempting to get over that fear and 331 00:15:13,960 --> 00:15:16,880 Speaker 4: try to succeed in that area. I knew that I 332 00:15:16,880 --> 00:15:18,920 Speaker 4: have a family at a nine month old at the time, 333 00:15:18,960 --> 00:15:21,320 Speaker 4: my son and my husband in my corner, and I 334 00:15:21,400 --> 00:15:23,240 Speaker 4: knew that this is the right time to take a 335 00:15:23,280 --> 00:15:25,680 Speaker 4: leap of faith. I mean it's always a challenge. I 336 00:15:25,680 --> 00:15:28,480 Speaker 4: mean starting a new practice during a business. I knew 337 00:15:28,480 --> 00:15:30,600 Speaker 4: that my quality care was there. I mean, I knew 338 00:15:30,640 --> 00:15:32,520 Speaker 4: that we had the hands on skills, we had team 339 00:15:32,600 --> 00:15:35,200 Speaker 4: in place at the time, and if everything would fall 340 00:15:35,240 --> 00:15:35,760 Speaker 4: into place. 341 00:15:36,440 --> 00:15:38,520 Speaker 1: I've heard that a lot with other small business owners 342 00:15:38,520 --> 00:15:42,360 Speaker 1: and entrepreneurs, this mantra of build an amazing product and 343 00:15:42,560 --> 00:15:44,680 Speaker 1: your customers will come. Yes. Right, the word of mouth 344 00:15:44,800 --> 00:15:47,080 Speaker 1: is going to happen. If you have a great product, 345 00:15:47,280 --> 00:15:48,160 Speaker 1: people will come. 346 00:15:48,240 --> 00:15:48,560 Speaker 3: That's right. 347 00:15:48,600 --> 00:15:50,160 Speaker 1: And so it sounds like that's what you really leaned 348 00:15:50,200 --> 00:15:52,920 Speaker 1: into as a small business owner. It might take, you know, 349 00:15:52,920 --> 00:15:54,960 Speaker 1: a couple of weeks or a couple months, but it's 350 00:15:54,960 --> 00:15:57,520 Speaker 1: eventually going to turn into a thriving business, which it 351 00:15:57,640 --> 00:15:58,200 Speaker 1: has today. 352 00:15:58,240 --> 00:15:59,080 Speaker 3: That's right, I agreed. 353 00:15:59,440 --> 00:16:02,120 Speaker 4: I just that you know, having the previous business and 354 00:16:02,160 --> 00:16:03,680 Speaker 4: being the clink director for that business. 355 00:16:03,720 --> 00:16:05,240 Speaker 3: I knew that the model was working. 356 00:16:07,400 --> 00:16:10,360 Speaker 1: Is the current business as it is today what you 357 00:16:10,400 --> 00:16:12,920 Speaker 1: had expected it was going to turn into? Or did 358 00:16:12,920 --> 00:16:16,680 Speaker 1: you have other expectations or desires for the business in 359 00:16:16,720 --> 00:16:19,400 Speaker 1: the beginning, then you realized, wait a second, that was silly. 360 00:16:19,440 --> 00:16:20,680 Speaker 1: We should actually do this instead. 361 00:16:21,080 --> 00:16:23,440 Speaker 4: It's so funny. This client grew fast than I thought 362 00:16:23,440 --> 00:16:25,640 Speaker 4: it would grow. The biggest growth was through the pandemic. 363 00:16:26,160 --> 00:16:28,320 Speaker 4: And I to tell you why. During the pandemic, I 364 00:16:28,320 --> 00:16:30,920 Speaker 4: think people had to approach their life and mortality and 365 00:16:30,960 --> 00:16:32,920 Speaker 4: they realized, wait, am I doing the right things of 366 00:16:32,920 --> 00:16:35,680 Speaker 4: my life to be successful, to be happy, to be healthy. 367 00:16:36,120 --> 00:16:38,840 Speaker 4: We are essential workers as physical therapists, so we stayed 368 00:16:38,840 --> 00:16:40,960 Speaker 4: opened in the pandemic, so we were able to work 369 00:16:40,960 --> 00:16:42,800 Speaker 4: in the pandemic, and so we were like sometimes the 370 00:16:42,800 --> 00:16:45,160 Speaker 4: first person someone saw all day, all week, and we 371 00:16:45,200 --> 00:16:47,440 Speaker 4: made their day and we had a safe space. That's 372 00:16:47,480 --> 00:16:50,520 Speaker 4: when we grew the most, honestly, is during that time, 373 00:16:50,560 --> 00:16:53,560 Speaker 4: and people started thinking about their own health and being 374 00:16:53,560 --> 00:16:54,240 Speaker 4: empowered by it. 375 00:16:54,600 --> 00:16:56,520 Speaker 2: So I think one of the unique things when you're 376 00:16:56,560 --> 00:17:00,720 Speaker 2: buying a business is you're also buying the forensic analysis 377 00:17:00,720 --> 00:17:02,600 Speaker 2: that comes with us, right, So you get to look 378 00:17:02,640 --> 00:17:05,840 Speaker 2: at what's been going on with the books, procedures, what 379 00:17:05,880 --> 00:17:08,600 Speaker 2: have we been doing, what services have we been selling. 380 00:17:09,000 --> 00:17:12,120 Speaker 2: I'm curious, once you started kind of digging down, did 381 00:17:12,160 --> 00:17:15,159 Speaker 2: you find anything that maybe raised some red flags for 382 00:17:15,200 --> 00:17:17,200 Speaker 2: you or did you see some stuff that like, Okay, 383 00:17:17,200 --> 00:17:19,520 Speaker 2: this is working, we should continue doing this. 384 00:17:19,880 --> 00:17:23,600 Speaker 4: Yes, I think what I learned is that as far 385 00:17:23,640 --> 00:17:26,680 Speaker 4: as reimbursement, so you know, insurance drives a lot of healthcare, 386 00:17:26,960 --> 00:17:29,200 Speaker 4: and so in our space, we had a hybrid based clinic. 387 00:17:29,200 --> 00:17:31,680 Speaker 4: We had insurance based and cash bay clinics. So we 388 00:17:31,760 --> 00:17:34,320 Speaker 4: wanted to maintain that space and make it reasonable for 389 00:17:34,359 --> 00:17:35,919 Speaker 4: patients to come and see us, even that they had 390 00:17:36,040 --> 00:17:39,440 Speaker 4: no insurance. Sort of fee schedule that was pretty average 391 00:17:39,520 --> 00:17:41,159 Speaker 4: compared to all the other FEA schedules out there in 392 00:17:41,200 --> 00:17:43,200 Speaker 4: the world, which is other pet clinics had the same 393 00:17:43,240 --> 00:17:47,520 Speaker 4: pricing point for evaluations, follow up visits. And then we 394 00:17:47,600 --> 00:17:50,679 Speaker 4: had to increase that fee schedule and raise the rates 395 00:17:50,720 --> 00:17:52,720 Speaker 4: you know, every year or so a little bit. 396 00:17:52,680 --> 00:17:54,640 Speaker 3: To help with inflation, of help with. 397 00:17:54,680 --> 00:17:56,840 Speaker 2: Costs of real estate here exactly, but not getting any 398 00:17:56,880 --> 00:17:57,879 Speaker 2: cheaper exactly. 399 00:17:58,160 --> 00:18:00,280 Speaker 4: We doubled in size, and so we have had to 400 00:18:00,400 --> 00:18:03,199 Speaker 4: make up for the double rent, and so we did 401 00:18:03,359 --> 00:18:06,440 Speaker 4: raise the rates and the fee schedule. We also did 402 00:18:06,480 --> 00:18:09,080 Speaker 4: make sure we maintain that patient care within those rate 403 00:18:09,160 --> 00:18:12,040 Speaker 4: changes so that we don't price gout anyone out of 404 00:18:12,040 --> 00:18:12,800 Speaker 4: our clinic space. 405 00:18:13,080 --> 00:18:14,680 Speaker 3: So that was important. One thing I. 406 00:18:14,680 --> 00:18:16,879 Speaker 4: Learned is that we had a billing company that was 407 00:18:16,920 --> 00:18:19,280 Speaker 4: doing a great job for us, but not the best job, 408 00:18:19,440 --> 00:18:22,720 Speaker 4: so there's lost revenue. Let's say you complete a patient 409 00:18:22,760 --> 00:18:24,359 Speaker 4: note and there's like a mistake made that patient note, 410 00:18:24,400 --> 00:18:26,000 Speaker 4: Well you can you can change that on the back 411 00:18:26,080 --> 00:18:29,320 Speaker 4: end and resubmit for insurance and get that billing collected 412 00:18:29,400 --> 00:18:32,040 Speaker 4: on the back end. So the billing company wasn't informing 413 00:18:32,119 --> 00:18:34,800 Speaker 4: us at all times in a timely fashion when some 414 00:18:34,840 --> 00:18:38,760 Speaker 4: mistakes were made. So we decided that company wasn't for us. 415 00:18:38,880 --> 00:18:41,760 Speaker 4: They weren't able to keep up with our demand. Sometimes 416 00:18:41,920 --> 00:18:43,879 Speaker 4: in a month we may see seven hundred patients come 417 00:18:43,880 --> 00:18:45,240 Speaker 4: through the door. So we want to make sure we 418 00:18:45,240 --> 00:18:48,240 Speaker 4: can maintain that care and with our billing as well. 419 00:18:48,320 --> 00:18:51,360 Speaker 4: So we changed companies and that was a big change 420 00:18:51,359 --> 00:18:52,760 Speaker 4: we had to make, and we had to make sure 421 00:18:52,840 --> 00:18:55,000 Speaker 4: we were not leaving any money on the table basically 422 00:18:55,000 --> 00:18:56,680 Speaker 4: and not missing reversements. 423 00:18:56,760 --> 00:18:58,760 Speaker 2: Yeah, that's a great attitude to have, and I think 424 00:18:58,760 --> 00:19:01,280 Speaker 2: it's important to know as a business owner, you're going 425 00:19:01,320 --> 00:19:03,919 Speaker 2: to go through different growth seasons and there's just going 426 00:19:04,000 --> 00:19:06,960 Speaker 2: to be some support that maybe got you to where 427 00:19:06,960 --> 00:19:09,000 Speaker 2: you are, but is not going to necessarily be able 428 00:19:09,000 --> 00:19:11,200 Speaker 2: to get you to that next phase. You know. It's 429 00:19:11,240 --> 00:19:13,320 Speaker 2: just about kind of making sure that at the end 430 00:19:13,359 --> 00:19:15,160 Speaker 2: of the day, you're getting the support that you need 431 00:19:15,200 --> 00:19:17,680 Speaker 2: so you can provide the optimal experience for your clients. 432 00:19:17,720 --> 00:19:18,160 Speaker 3: That's right. 433 00:19:18,520 --> 00:19:20,399 Speaker 4: It's all that takes all of it, not just the 434 00:19:20,440 --> 00:19:23,000 Speaker 4: personal care, health care, but like knowing that it's a 435 00:19:23,000 --> 00:19:25,920 Speaker 4: business and if I could, I would treat everyone for free. 436 00:19:26,320 --> 00:19:28,560 Speaker 3: Would I would? But then we would not have a 437 00:19:28,600 --> 00:19:31,320 Speaker 3: clinic and we wouldn't be able at a hobby. 438 00:19:31,640 --> 00:19:35,879 Speaker 4: You could treat me for fresh Yes, I'll do that 439 00:19:36,359 --> 00:19:38,720 Speaker 4: any time, but you know, we would have a clinic. 440 00:19:39,080 --> 00:19:41,359 Speaker 4: You know, we would have four walls and yeah, so 441 00:19:41,400 --> 00:19:45,040 Speaker 4: we had to maintain some business aspects. 442 00:19:46,680 --> 00:19:49,639 Speaker 2: Coming up on mine the business small business success stories. 443 00:19:49,960 --> 00:19:51,520 Speaker 4: You live and breathe the business. It's like your baby. 444 00:19:51,560 --> 00:19:53,199 Speaker 4: It's like you know, you want to protect it. You 445 00:19:53,240 --> 00:19:54,920 Speaker 4: have to protect the palace at all costs. You whatever 446 00:19:54,920 --> 00:19:57,400 Speaker 4: that may be. Just protect the palace. We'll be right back. 447 00:20:06,480 --> 00:20:07,920 Speaker 4: Welcome back to mind the business. 448 00:20:11,200 --> 00:20:14,000 Speaker 1: So I've been an entrepreneur for going on five years now, 449 00:20:14,080 --> 00:20:19,800 Speaker 1: and I've made countless mistakes. Okay, so you're going on 450 00:20:19,880 --> 00:20:23,080 Speaker 1: now year seven, year eight, what are some mistakes that 451 00:20:23,400 --> 00:20:26,840 Speaker 1: Reflecting back, thinking man, that was goofy right, what are 452 00:20:26,880 --> 00:20:28,720 Speaker 1: the mistakes that you had made and what did you 453 00:20:28,760 --> 00:20:29,320 Speaker 1: learn from them? 454 00:20:29,600 --> 00:20:32,400 Speaker 4: I think not catching the billing mistakes early was one 455 00:20:32,400 --> 00:20:34,800 Speaker 4: thing I would have like, because I can't collect that 456 00:20:34,840 --> 00:20:35,840 Speaker 4: money now it's gone. 457 00:20:36,040 --> 00:20:37,639 Speaker 3: How long did that go on before you guys are 458 00:20:37,640 --> 00:20:40,720 Speaker 3: read on something? Maybe a few years? I think a 459 00:20:40,760 --> 00:20:41,440 Speaker 3: few years. 460 00:20:41,520 --> 00:20:44,040 Speaker 4: I mean, now could we collect that money? You have 461 00:20:44,080 --> 00:20:47,320 Speaker 4: a year after finding an insurance claim to like get 462 00:20:47,320 --> 00:20:48,600 Speaker 4: that money. So if you see a patient, you have 463 00:20:48,640 --> 00:20:50,800 Speaker 4: a year to finish that note and you get the collections. 464 00:20:51,040 --> 00:20:53,560 Speaker 4: And so this is beyond a year that these things 465 00:20:53,560 --> 00:20:56,120 Speaker 4: were happening, so we couldn't go back in time and collect. 466 00:20:56,520 --> 00:20:59,240 Speaker 4: So you know, it is what it is at the 467 00:20:59,240 --> 00:21:03,320 Speaker 4: time back and that was one mistake we made. You know, 468 00:21:03,440 --> 00:21:07,080 Speaker 4: just making sure that I maintain growth and profitability as 469 00:21:07,160 --> 00:21:09,639 Speaker 4: well as take care of my employees, that's important. So 470 00:21:09,760 --> 00:21:12,640 Speaker 4: if we get collect as such as we can through 471 00:21:12,680 --> 00:21:16,320 Speaker 4: our fee schedules and through insurance and thinking smarter, working 472 00:21:16,320 --> 00:21:17,040 Speaker 4: smarter and harder. 473 00:21:17,040 --> 00:21:17,879 Speaker 3: That that helps. 474 00:21:18,320 --> 00:21:23,920 Speaker 1: What's a strategy for balancing growth and profitability? Again, you're 475 00:21:23,960 --> 00:21:26,600 Speaker 1: on year seven, year eight. I'm sure you do a 476 00:21:26,640 --> 00:21:30,040 Speaker 1: great job of is it monthly? Is it quarterly? Is 477 00:21:30,080 --> 00:21:33,080 Speaker 1: it annually? Sitting down with the finance team and going 478 00:21:33,119 --> 00:21:36,200 Speaker 1: through the books understanding how much you're spending on marketing 479 00:21:36,320 --> 00:21:39,399 Speaker 1: versus how much you're profiting per new visit new clients. 480 00:21:39,520 --> 00:21:40,159 Speaker 1: Walk us through that. 481 00:21:40,520 --> 00:21:43,000 Speaker 4: Okay, So we have a monthly meeting. Michell and I 482 00:21:43,040 --> 00:21:44,840 Speaker 4: and my office assistant we meet once a month to 483 00:21:44,840 --> 00:21:47,679 Speaker 4: go over numbers. Sometimes you go over numbers with the 484 00:21:48,320 --> 00:21:50,199 Speaker 4: company we work with the billing company, and we go 485 00:21:50,200 --> 00:21:53,480 Speaker 4: over collections and you know, lost revenue and how to 486 00:21:53,520 --> 00:21:55,880 Speaker 4: collect the revenue. My accountant I meet with every three 487 00:21:55,880 --> 00:21:58,679 Speaker 4: months quarterly to go over our accounting numbers, like how 488 00:21:58,720 --> 00:22:02,439 Speaker 4: we're doing I buy this new machine? Can I raise 489 00:22:02,520 --> 00:22:04,639 Speaker 4: my fee schedule? Should I raise my fee schedule? Can 490 00:22:04,680 --> 00:22:05,959 Speaker 4: I pay my therapis a little bit more? And how 491 00:22:06,000 --> 00:22:09,000 Speaker 4: much can I pay them? So these questions I asked 492 00:22:09,000 --> 00:22:11,399 Speaker 4: the team so that we try to profit and not 493 00:22:12,160 --> 00:22:15,679 Speaker 4: save our losses, keep them smaller than larger we have losses, 494 00:22:15,680 --> 00:22:18,199 Speaker 4: and that we did see a change happened with the 495 00:22:18,560 --> 00:22:21,200 Speaker 4: two hurricanes. It was unprecedented times. We had two hurricanes 496 00:22:21,240 --> 00:22:23,680 Speaker 4: that was not planned. So we definitely had to pivot 497 00:22:23,720 --> 00:22:26,440 Speaker 4: through those times and figure out, Okay, well, you're not 498 00:22:26,480 --> 00:22:29,040 Speaker 4: seeing patience in those weeks, and so that's not money 499 00:22:29,040 --> 00:22:31,439 Speaker 4: coming in. So we had to figure out how to 500 00:22:31,880 --> 00:22:34,800 Speaker 4: save for rainy day, which is a lot of rain 501 00:22:35,760 --> 00:22:38,040 Speaker 4: actually a rainy day. 502 00:22:38,240 --> 00:22:41,000 Speaker 1: It sounds like an ongoing theme of the success you've 503 00:22:41,000 --> 00:22:45,720 Speaker 1: experienced with this business is surrounding yourself with a good team, 504 00:22:45,760 --> 00:22:52,280 Speaker 1: good partners and employees, good accountants, good mentors, good financing people. Right, 505 00:22:52,400 --> 00:22:55,800 Speaker 1: everything comes around this idea of surrounding yourself with a 506 00:22:55,840 --> 00:22:57,760 Speaker 1: team of people who have your back. We're going to 507 00:22:58,000 --> 00:23:00,239 Speaker 1: be very honest with you and then also encourage you 508 00:23:00,280 --> 00:23:03,000 Speaker 1: when you might be, you know, having a hurricane day. 509 00:23:03,520 --> 00:23:06,720 Speaker 2: So, as someone who has now been in the driver's 510 00:23:06,720 --> 00:23:09,440 Speaker 2: seat of this business for seven years, you've seen a lot, 511 00:23:09,440 --> 00:23:14,000 Speaker 2: You've seen a pandemic, you've seen inflation. How has the 512 00:23:14,000 --> 00:23:17,639 Speaker 2: information that you've collected in the past served you going forward, 513 00:23:17,640 --> 00:23:21,240 Speaker 2: because I imagine it not every year looks the same, No. 514 00:23:21,280 --> 00:23:24,320 Speaker 4: Every years looks the same. And just knowing that reimbursement 515 00:23:24,400 --> 00:23:26,680 Speaker 4: can take a long time. For instance, if you file 516 00:23:26,720 --> 00:23:29,000 Speaker 4: a claim with Medicare, you may not get paid for 517 00:23:29,040 --> 00:23:29,800 Speaker 4: three to four weeks. 518 00:23:29,920 --> 00:23:30,399 Speaker 3: Wow, you know. 519 00:23:30,520 --> 00:23:32,520 Speaker 4: And you know, sometimes there's a mistake made, you might 520 00:23:32,560 --> 00:23:34,080 Speaker 4: have to wait two or three months to get that claim. 521 00:23:34,160 --> 00:23:36,720 Speaker 4: So it's it's very cyclical. It's it's kind of like 522 00:23:36,920 --> 00:23:39,480 Speaker 4: up and down when collections are concerned. You know that 523 00:23:39,600 --> 00:23:44,160 Speaker 4: maybe in December and January things shut down in the government, 524 00:23:44,320 --> 00:23:47,880 Speaker 4: so you have this holiday kind of like schedule where 525 00:23:47,920 --> 00:23:50,840 Speaker 4: you might not get a lot of response from insurance 526 00:23:50,840 --> 00:23:53,439 Speaker 4: companies are from the government because they're also on vacation 527 00:23:53,520 --> 00:23:56,400 Speaker 4: and enjoying their holidays. So that means that if they're closed, 528 00:23:56,520 --> 00:23:59,840 Speaker 4: we're closed. Reimbursement it depends of like they're getting to 529 00:23:59,880 --> 00:24:03,040 Speaker 4: our you know, our documentation, getting to our charting and 530 00:24:03,080 --> 00:24:04,359 Speaker 4: paying us in a timely manner. 531 00:24:04,400 --> 00:24:06,520 Speaker 3: So that may slow down in the first quarter. 532 00:24:06,880 --> 00:24:08,960 Speaker 4: So we learned that we have to like maybe not 533 00:24:09,280 --> 00:24:11,240 Speaker 4: do big projects in the fourth court of the. 534 00:24:11,240 --> 00:24:13,359 Speaker 3: Year, maybe just like you know, hold on to like 535 00:24:13,400 --> 00:24:13,840 Speaker 3: our cash. 536 00:24:13,840 --> 00:24:16,600 Speaker 2: And that makes a lot of sense, yea, And you 537 00:24:16,680 --> 00:24:18,880 Speaker 2: only know that with information, right, That's why I only 538 00:24:18,920 --> 00:24:20,760 Speaker 2: you can know that by being able to look back 539 00:24:20,800 --> 00:24:23,640 Speaker 2: and see, ooh, this is a seasonal thing. We need 540 00:24:23,680 --> 00:24:25,760 Speaker 2: to be mindful of what time of year this is, 541 00:24:25,800 --> 00:24:29,000 Speaker 2: to be strategic about how we deploy cash and also 542 00:24:29,119 --> 00:24:31,639 Speaker 2: just what we take on as a business. Yes, so 543 00:24:31,800 --> 00:24:34,920 Speaker 2: what's the biggest surprise that you have had in this 544 00:24:35,440 --> 00:24:36,880 Speaker 2: small business owner journey? 545 00:24:37,400 --> 00:24:40,879 Speaker 4: I did know growth this fast and that you have 546 00:24:40,920 --> 00:24:43,080 Speaker 4: to be all in. So like my laptop is always 547 00:24:43,119 --> 00:24:45,040 Speaker 4: with me vacations, it's always with me. 548 00:24:45,080 --> 00:24:45,880 Speaker 3: I traveled with it. 549 00:24:46,160 --> 00:24:48,840 Speaker 4: We went to London recently with my family and it 550 00:24:48,880 --> 00:24:51,119 Speaker 4: was time for payroll, so that laptop came with me. 551 00:24:51,600 --> 00:24:53,639 Speaker 4: I made sure you know to do payroll in London, 552 00:24:53,640 --> 00:24:55,199 Speaker 4: and just make sure like I can take care of 553 00:24:55,200 --> 00:24:57,280 Speaker 4: business when I'm away. So you still have to vacation 554 00:24:57,320 --> 00:24:59,000 Speaker 4: and take time for yourselves. But also your business is 555 00:24:59,040 --> 00:25:01,800 Speaker 4: always on your mind and to know that never shuts down. 556 00:25:01,840 --> 00:25:03,639 Speaker 4: It's always like part of your life and you have 557 00:25:03,680 --> 00:25:06,200 Speaker 4: to be all in at all times. So I think 558 00:25:06,480 --> 00:25:07,359 Speaker 4: you live and breathe the business. 559 00:25:07,520 --> 00:25:07,639 Speaker 1: You know. 560 00:25:07,640 --> 00:25:08,879 Speaker 3: Someone always says it's like your baby. 561 00:25:08,920 --> 00:25:09,159 Speaker 2: It is. 562 00:25:09,200 --> 00:25:10,880 Speaker 4: It's like your baby. It's like you know you want 563 00:25:10,920 --> 00:25:14,840 Speaker 4: to protect it. My coworker Meredith, she says, protect the palace. 564 00:25:15,160 --> 00:25:16,639 Speaker 4: You have to protect the palace at all costs, you 565 00:25:16,680 --> 00:25:20,600 Speaker 4: whatever that may be. Just protect the palace from unhappiness 566 00:25:20,680 --> 00:25:21,760 Speaker 4: from the IRS. 567 00:25:22,040 --> 00:25:24,920 Speaker 3: IRAS's exactly exactly. Irs. 568 00:25:25,000 --> 00:25:27,320 Speaker 4: Protect the palace from just like you know, keep it joyful. 569 00:25:27,520 --> 00:25:30,520 Speaker 4: Just protect it from hurricane. Yes, and just make sure 570 00:25:30,560 --> 00:25:32,639 Speaker 4: you steer clear of things that could maybe pull you 571 00:25:32,680 --> 00:25:33,880 Speaker 4: off the path of like success. 572 00:25:34,080 --> 00:25:34,560 Speaker 1: Yeah. 573 00:25:34,600 --> 00:25:37,560 Speaker 2: Well, and I can imagine that being able to run 574 00:25:37,600 --> 00:25:41,000 Speaker 2: payroll from London. It's only possible in this modern era 575 00:25:41,119 --> 00:25:43,920 Speaker 2: because of programs like into a quicks Oh yes, can 576 00:25:43,960 --> 00:25:46,240 Speaker 2: you imagine having to like sit there and physically write 577 00:25:46,240 --> 00:25:48,320 Speaker 2: and mail tracks like back in the day. I'm just like, 578 00:25:48,320 --> 00:25:51,240 Speaker 2: I'm so glad I'm a business owner in this modern era. 579 00:25:51,359 --> 00:25:53,560 Speaker 3: Oh, we love into it. You use it daily and 580 00:25:53,600 --> 00:25:53,960 Speaker 3: we love it. 581 00:25:54,160 --> 00:25:56,679 Speaker 1: Let's actually dig into that. As you know, Intwit QuickBooks 582 00:25:56,720 --> 00:25:59,520 Speaker 1: is great for record keeping. With intwit QuickBooks, I manage 583 00:25:59,600 --> 00:26:02,480 Speaker 1: my businessiness in one place. I track money in and out. 584 00:26:02,520 --> 00:26:05,040 Speaker 1: I'm running payroll just like you. I make and accept 585 00:26:05,080 --> 00:26:08,320 Speaker 1: payments all in one integrated platform. And the best part 586 00:26:08,400 --> 00:26:11,480 Speaker 1: is it's all recorded. I can go back and look 587 00:26:11,520 --> 00:26:13,560 Speaker 1: at what I spent on marketing in my first year 588 00:26:13,600 --> 00:26:16,440 Speaker 1: and how much that might have positively impacted my business, 589 00:26:16,440 --> 00:26:18,560 Speaker 1: and say, should I spend more this year? How is 590 00:26:18,560 --> 00:26:21,119 Speaker 1: that trending? What decisions should I make? So do you 591 00:26:21,119 --> 00:26:24,240 Speaker 1: have any strategies for looking at your business's performance week 592 00:26:24,280 --> 00:26:26,840 Speaker 1: by week, month by month, or year over year so 593 00:26:26,880 --> 00:26:29,680 Speaker 1: that you can keep going with what's working and improve 594 00:26:29,840 --> 00:26:31,800 Speaker 1: where things need to be tweaked up a little bit? 595 00:26:32,320 --> 00:26:34,320 Speaker 4: Oh yes, looking at into it quick books and the 596 00:26:34,359 --> 00:26:35,800 Speaker 4: way it helps us. We look at collections on a 597 00:26:35,800 --> 00:26:38,200 Speaker 4: weekly basis, daily basis to see like how well we're 598 00:26:38,200 --> 00:26:41,400 Speaker 4: doing a daily, weekly, monthly and we know if there's 599 00:26:41,480 --> 00:26:43,040 Speaker 4: going to be a slow month coming. We can look 600 00:26:43,080 --> 00:26:45,880 Speaker 4: at previous history, last year's data compared to this year's 601 00:26:45,920 --> 00:26:47,560 Speaker 4: data and see well how we do. Then we can 602 00:26:47,600 --> 00:26:50,040 Speaker 4: see also growth factors like how well we've grown from 603 00:26:50,080 --> 00:26:52,399 Speaker 4: last year to this year. I know as we are 604 00:26:52,400 --> 00:26:55,280 Speaker 4: a hybrid based clinic, have an insurance for Medicare and 605 00:26:55,320 --> 00:26:58,360 Speaker 4: Tricare and cash pay visits as well, cash pay every 606 00:26:58,440 --> 00:27:01,159 Speaker 4: day with into it right versus getting collections from insurance 607 00:27:01,160 --> 00:27:03,440 Speaker 4: would be mailed to us or direct deposit too, So 608 00:27:03,880 --> 00:27:06,280 Speaker 4: having that real time cash through QuickBooks so important to 609 00:27:06,320 --> 00:27:09,880 Speaker 4: maintain the space and know that we're going to get 610 00:27:09,880 --> 00:27:10,639 Speaker 4: that payment. 611 00:27:11,119 --> 00:27:13,520 Speaker 1: I would also imagine it helps with sort of real 612 00:27:13,600 --> 00:27:17,680 Speaker 1: time understanding of cash flow, right because you mentioned and 613 00:27:17,720 --> 00:27:19,520 Speaker 1: I think a lot of people listening can empathize with 614 00:27:19,560 --> 00:27:21,600 Speaker 1: the fact that sometimes you send an invoice to Nison 615 00:27:21,640 --> 00:27:24,679 Speaker 1: doesn't get paid for sixty days, right, So you know, 616 00:27:24,760 --> 00:27:27,280 Speaker 1: having this real time visibility could be really important for 617 00:27:27,320 --> 00:27:28,119 Speaker 1: someone in your shoes. 618 00:27:28,240 --> 00:27:30,960 Speaker 4: Oh yes, oh yes, and making sure we have we 619 00:27:31,000 --> 00:27:33,600 Speaker 4: able to pay our vendors and making sure we're getting 620 00:27:33,600 --> 00:27:36,119 Speaker 4: paid as well. Is there important to have that convenience 621 00:27:36,160 --> 00:27:40,000 Speaker 4: through QuickBooks. It's been successful for us to maintain that flow. 622 00:27:40,119 --> 00:27:45,520 Speaker 4: And yes, accuracy, accuracy, I think that's a key term here, right, accuracy, Yeah. 623 00:27:45,400 --> 00:27:46,720 Speaker 1: Accuracy and visibility. 624 00:27:46,800 --> 00:27:48,119 Speaker 3: Yes, yes, I agree with that. 625 00:27:48,320 --> 00:27:51,680 Speaker 1: Something we talked about earlier when you first walked into 626 00:27:51,720 --> 00:27:54,000 Speaker 1: this new chapter of your life of owning this business 627 00:27:54,080 --> 00:27:57,600 Speaker 1: was optimism, right, very optimist, Nick, not very fearful, just 628 00:27:57,800 --> 00:28:01,840 Speaker 1: very excited about the future. Now fast forward seven eight 629 00:28:01,920 --> 00:28:05,880 Speaker 1: years into the future, do you find yourself still very 630 00:28:05,880 --> 00:28:09,919 Speaker 1: optimistic and how has that sort of translated in risk taking? 631 00:28:10,080 --> 00:28:12,920 Speaker 1: Do you see yourself taking big risks today were you're 632 00:28:12,920 --> 00:28:15,480 Speaker 1: taking big risks in the beginning, and those risks could 633 00:28:15,520 --> 00:28:19,200 Speaker 1: be anything like hiring new people, expanding into a new space, 634 00:28:19,359 --> 00:28:20,040 Speaker 1: things like that. 635 00:28:20,680 --> 00:28:22,439 Speaker 4: I think I took more risk early on because we 636 00:28:22,520 --> 00:28:26,120 Speaker 4: just launched the business. It was a smaller clinic path 637 00:28:26,119 --> 00:28:28,840 Speaker 4: of size, less rent, and we had a therapist who 638 00:28:28,840 --> 00:28:30,760 Speaker 4: are amazing, and we had to prove our products. So 639 00:28:30,760 --> 00:28:32,360 Speaker 4: I think I took more over then to like kind 640 00:28:32,359 --> 00:28:34,960 Speaker 4: of develop the clinic and make sure that we were 641 00:28:35,040 --> 00:28:38,200 Speaker 4: providing the best lighting, are the best atmosphere, and the 642 00:28:38,240 --> 00:28:40,840 Speaker 4: best marketing. And we definitely had marketing lunches with our 643 00:28:40,840 --> 00:28:43,200 Speaker 4: doctors and we're out there in the market getting people 644 00:28:43,280 --> 00:28:45,920 Speaker 4: to know who we were, and yeah, that was fun. 645 00:28:46,160 --> 00:28:48,920 Speaker 4: The first three four years of launching was just bring 646 00:28:48,960 --> 00:28:51,840 Speaker 4: our name out there. I think I'm less risky now. 647 00:28:51,880 --> 00:28:55,960 Speaker 4: I'm more trying to fine tune everything because I think 648 00:28:55,960 --> 00:28:59,120 Speaker 4: there's more to lose because I have more therapists on staff. 649 00:28:59,160 --> 00:28:59,960 Speaker 3: I have family. 650 00:29:00,200 --> 00:29:02,440 Speaker 4: I think about I have coworkers who are like my family, 651 00:29:02,520 --> 00:29:04,760 Speaker 4: and they have children, they have husbands, and I want 652 00:29:04,800 --> 00:29:07,760 Speaker 4: them to have a stable job and a stable career 653 00:29:07,800 --> 00:29:08,840 Speaker 4: and to protect our palace. 654 00:29:08,880 --> 00:29:10,000 Speaker 3: So I think I take less. 655 00:29:09,880 --> 00:29:12,680 Speaker 4: Risk now than I did before, but I'm still looking 656 00:29:12,680 --> 00:29:15,720 Speaker 4: to the future. For instance, I would love to launch products. 657 00:29:15,760 --> 00:29:18,280 Speaker 4: I have ideas for products, you know, maybe launch something 658 00:29:18,360 --> 00:29:20,000 Speaker 4: that I think we need in the world, like an 659 00:29:20,120 --> 00:29:21,560 Speaker 4: ergonomic device or something like that. 660 00:29:21,680 --> 00:29:23,480 Speaker 3: I have that on my plate in my mind. I 661 00:29:23,480 --> 00:29:24,280 Speaker 3: want to write a book. 662 00:29:24,720 --> 00:29:27,040 Speaker 4: Things like that could be kind of like passive income 663 00:29:27,080 --> 00:29:29,400 Speaker 4: for the clinic, but the active income is more seing 664 00:29:29,480 --> 00:29:31,680 Speaker 4: patients and I want to protect that. I think one 665 00:29:31,760 --> 00:29:34,440 Speaker 4: risk I took was expanding the clinic. So from four 666 00:29:34,520 --> 00:29:36,959 Speaker 4: years we took the wall down and jumped across to 667 00:29:36,960 --> 00:29:40,360 Speaker 4: the pandemic, so that was pretty risky. So I think 668 00:29:40,480 --> 00:29:42,920 Speaker 4: that I want to make sure to grow the clinic. 669 00:29:43,480 --> 00:29:45,480 Speaker 4: We continue to like change our kind of method of 670 00:29:45,520 --> 00:29:48,520 Speaker 4: working and expanding our clinic space and our therapists and 671 00:29:48,520 --> 00:29:49,440 Speaker 4: our team, and. 672 00:29:49,360 --> 00:29:49,920 Speaker 3: We love it. 673 00:29:50,240 --> 00:29:52,040 Speaker 1: So it sounds like in the beginning it was more 674 00:29:52,160 --> 00:29:55,440 Speaker 1: of financial risks, right, pulling the rent, going out there, 675 00:29:55,480 --> 00:29:57,600 Speaker 1: getting your name out there, taking people at the lunch 676 00:29:57,720 --> 00:30:01,440 Speaker 1: dodent and marketings like that, where today it seems like 677 00:30:01,600 --> 00:30:04,840 Speaker 1: reputational risk is what you're focused on. Yeah, right, making 678 00:30:04,840 --> 00:30:08,800 Speaker 1: sure that your reputation stays five stars out of five stars, 679 00:30:08,840 --> 00:30:09,560 Speaker 1: like it is right now. 680 00:30:09,840 --> 00:30:12,120 Speaker 4: Yes, we want to make sure our patients feel cared for. 681 00:30:12,600 --> 00:30:15,280 Speaker 4: My coworkers are feel cared for by me and by 682 00:30:15,360 --> 00:30:17,920 Speaker 4: our team. We tend to work well together and we 683 00:30:17,960 --> 00:30:19,880 Speaker 4: want to maintain that as well. So we have a 684 00:30:19,960 --> 00:30:22,240 Speaker 4: village we want to protect. And I feel like one 685 00:30:22,240 --> 00:30:23,800 Speaker 4: thing I have at point out is that we have 686 00:30:23,840 --> 00:30:24,560 Speaker 4: work life balance. 687 00:30:24,560 --> 00:30:26,400 Speaker 3: A lot of right therapists are off a day of 688 00:30:26,440 --> 00:30:27,200 Speaker 3: the week or two. 689 00:30:27,760 --> 00:30:30,000 Speaker 4: Some work part time because they want to because their parents, 690 00:30:30,240 --> 00:30:32,240 Speaker 4: and some want to work full time, but they work 691 00:30:32,240 --> 00:30:35,200 Speaker 4: maybe four ten hour days. So I encourage a hybrid 692 00:30:35,240 --> 00:30:37,920 Speaker 4: schedule as well. We have that balance. Our team is 693 00:30:37,920 --> 00:30:39,280 Speaker 4: pretty much the same team we started with. 694 00:30:39,480 --> 00:30:42,320 Speaker 2: Wow, so sounds like you're really good at not only 695 00:30:42,360 --> 00:30:44,480 Speaker 2: protecting the palace but protecting the village too. 696 00:30:44,600 --> 00:30:45,200 Speaker 5: That's right. 697 00:30:45,480 --> 00:30:47,560 Speaker 3: Thank you for saying that. I do love my village 698 00:30:47,600 --> 00:30:48,520 Speaker 3: and I hope they know that. 699 00:30:48,600 --> 00:30:50,640 Speaker 4: But I just want to grow with them, and I 700 00:30:50,720 --> 00:30:54,000 Speaker 4: see how we can be a great neighborhood clinic that 701 00:30:54,040 --> 00:30:56,200 Speaker 4: people feel comfortable coming too. We have patients who come 702 00:30:56,200 --> 00:30:58,440 Speaker 4: here just for coffee in the lobby, they have no 703 00:30:58,480 --> 00:31:00,480 Speaker 4: patient visit. They want to come have coffee engage with 704 00:31:00,560 --> 00:31:01,520 Speaker 4: us and that's amazing. 705 00:31:01,560 --> 00:31:02,040 Speaker 3: We love that. 706 00:31:02,400 --> 00:31:05,880 Speaker 2: Yeah, that is a unique uh loyalty that you've built 707 00:31:05,920 --> 00:31:06,720 Speaker 2: into your client. 708 00:31:06,800 --> 00:31:07,400 Speaker 1: Because that's all. 709 00:31:07,480 --> 00:31:07,840 Speaker 3: Thank you. 710 00:31:09,000 --> 00:31:11,840 Speaker 2: What is the biggest lesson you've learned about yourself in 711 00:31:11,880 --> 00:31:13,840 Speaker 2: this entrepreneurial journey. 712 00:31:13,960 --> 00:31:16,920 Speaker 4: The bigest lesson I'm going about myself is that you 713 00:31:16,960 --> 00:31:20,080 Speaker 4: can't do it all. You know, you have to delegate. 714 00:31:20,520 --> 00:31:23,200 Speaker 4: And I know for me, my calendar is full. So 715 00:31:23,240 --> 00:31:25,760 Speaker 4: like as far as my social life, my personal life, 716 00:31:25,760 --> 00:31:28,680 Speaker 4: and my professional life. You want to be balanced. So 717 00:31:28,920 --> 00:31:31,320 Speaker 4: balance is important. And so in a day, I may 718 00:31:31,360 --> 00:31:34,760 Speaker 4: have certain task scheduled, but I realize that's my calendar. 719 00:31:34,760 --> 00:31:37,000 Speaker 4: I may from myself in my mind. No one has 720 00:31:37,000 --> 00:31:39,400 Speaker 4: this calendar but me. I can change any time, so 721 00:31:39,520 --> 00:31:39,960 Speaker 4: and I do. 722 00:31:40,280 --> 00:31:40,360 Speaker 1: So. 723 00:31:41,080 --> 00:31:42,680 Speaker 4: The way I kind of moved through life and with 724 00:31:42,840 --> 00:31:44,680 Speaker 4: task is that I have a conveyor belt. It's a 725 00:31:44,680 --> 00:31:46,720 Speaker 4: conveyor belt. If it doesn't get taken care of today, 726 00:31:46,800 --> 00:31:49,000 Speaker 4: it's on the belt, right, it comes back around at 727 00:31:49,000 --> 00:31:51,320 Speaker 4: some point. No need to stress, we need to worry 728 00:31:51,320 --> 00:31:54,200 Speaker 4: about it. It'll happen in due time. You can do 729 00:31:54,280 --> 00:31:56,400 Speaker 4: it all, but it has to be not at the 730 00:31:56,400 --> 00:31:58,479 Speaker 4: same time, not at the same time, giving yourself some 731 00:31:58,520 --> 00:31:59,960 Speaker 4: grace that I give yourself some grace. 732 00:32:00,120 --> 00:32:02,239 Speaker 1: That's something I certainly struggled with in the beginning as 733 00:32:02,240 --> 00:32:05,200 Speaker 1: an entrepreneur. Was I saw online all these people working 734 00:32:05,240 --> 00:32:08,160 Speaker 1: twenty four hours a day and seven days a week, 735 00:32:08,200 --> 00:32:10,360 Speaker 1: going hard and doing all these crazy things. I'm like, 736 00:32:10,480 --> 00:32:12,640 Speaker 1: that's what I have to do to be successful. And 737 00:32:12,680 --> 00:32:15,320 Speaker 1: it took me a very long time to realize that 738 00:32:15,440 --> 00:32:18,440 Speaker 1: is not the definition of success. Happiness is the definition 739 00:32:18,520 --> 00:32:20,800 Speaker 1: of success for me at least. And so to your 740 00:32:20,840 --> 00:32:23,760 Speaker 1: point of giving yourself grace, Oh, I wasn't able to 741 00:32:24,080 --> 00:32:25,840 Speaker 1: meet with this person, or I wasn't able to get 742 00:32:25,840 --> 00:32:28,240 Speaker 1: this specific business task done. It's on the conveyor belt. 743 00:32:28,280 --> 00:32:30,680 Speaker 1: It's going to come back around. We've got tomorrow, the 744 00:32:30,680 --> 00:32:32,720 Speaker 1: week after, and the many more years to come. As 745 00:32:32,720 --> 00:32:35,320 Speaker 1: it relates to being an entrepreneur, So having that balance 746 00:32:35,320 --> 00:32:38,120 Speaker 1: to your point between work and life and relationships is 747 00:32:38,160 --> 00:32:39,200 Speaker 1: the most important thing. 748 00:32:39,160 --> 00:32:41,680 Speaker 4: I concur I just think giving yourself grace and knowing 749 00:32:41,680 --> 00:32:43,719 Speaker 4: that to take out other people, you have to take 750 00:32:43,760 --> 00:32:46,480 Speaker 4: care of self and so that's not stable and important 751 00:32:46,480 --> 00:32:47,960 Speaker 4: to you, then it can all fold. 752 00:32:48,480 --> 00:32:51,440 Speaker 2: I think that's a great reminder of again how important 753 00:32:51,480 --> 00:32:55,320 Speaker 2: mindset is the conveyor belt gives me this reassurance that 754 00:32:55,400 --> 00:32:58,440 Speaker 2: those things that are for us as entrepreneurs will wait 755 00:32:58,480 --> 00:33:00,600 Speaker 2: for us until we're ready to get back to them. 756 00:33:01,160 --> 00:33:03,840 Speaker 2: Cheri's this has been an incredible conversation. I am so 757 00:33:04,600 --> 00:33:07,080 Speaker 2: excited to continue to follow your growth here in the 758 00:33:07,120 --> 00:33:11,280 Speaker 2: Tampa Bay area. I predict multiple clinics because what you're 759 00:33:11,280 --> 00:33:13,800 Speaker 2: doing here is very unique and very needed, as you 760 00:33:13,800 --> 00:33:15,840 Speaker 2: can tell by the fact that you have a wait list. 761 00:33:16,280 --> 00:33:19,480 Speaker 2: So we're we're seeing lots of success here at Potential Therapeutics. 762 00:33:19,480 --> 00:33:21,080 Speaker 2: And thank you so much for being on the show. 763 00:33:21,160 --> 00:33:23,040 Speaker 3: Thank you so much for having me. I appreciate you 764 00:33:23,040 --> 00:33:23,720 Speaker 3: guys so much. 765 00:33:29,640 --> 00:33:33,200 Speaker 1: What a cool journey that Cherise has embarked on and 766 00:33:33,400 --> 00:33:38,080 Speaker 1: absolutely succeeded with. What is your biggest takeaway from our conversation, Janis. 767 00:33:37,960 --> 00:33:41,479 Speaker 2: Well, I really loved how as somebody who's buying an 768 00:33:41,480 --> 00:33:45,520 Speaker 2: existing business, you actually have data to make future decisions 769 00:33:45,520 --> 00:33:49,680 Speaker 2: on right. You actually have sales data, marketing data, all 770 00:33:49,720 --> 00:33:52,640 Speaker 2: types of information that I didn't have as an entrepreneur 771 00:33:52,720 --> 00:33:54,800 Speaker 2: when I first started because I'm starting business from scratch. 772 00:33:55,080 --> 00:33:57,640 Speaker 2: So there is actually a big benefit to buying an 773 00:33:57,640 --> 00:34:00,320 Speaker 2: existing business and We're also going to talk about later 774 00:34:00,360 --> 00:34:02,720 Speaker 2: on in the season about how you can use this 775 00:34:02,840 --> 00:34:05,920 Speaker 2: data to make decisions. And I think us obviously is 776 00:34:05,920 --> 00:34:08,000 Speaker 2: making a bunch of great decisions because she has had 777 00:34:08,040 --> 00:34:10,399 Speaker 2: nothing but success in the past seven years as. 778 00:34:10,320 --> 00:34:13,359 Speaker 1: An owner, no kidding, Oh my goodness, you know. I 779 00:34:13,400 --> 00:34:16,439 Speaker 1: think my biggest takeaway from our conversation, and I find 780 00:34:16,440 --> 00:34:18,399 Speaker 1: myself as a small business owner kind of going through 781 00:34:18,440 --> 00:34:22,239 Speaker 1: this myself right now, is this idea between financial risk, 782 00:34:22,360 --> 00:34:24,440 Speaker 1: like she was taking big financial risk in the beginning 783 00:34:24,440 --> 00:34:28,040 Speaker 1: as it relates to expanding, hiring, marketing, you know, meeting 784 00:34:28,120 --> 00:34:30,879 Speaker 1: new people, doing these things that you can definitely burn 785 00:34:30,880 --> 00:34:33,080 Speaker 1: a hole in your pocket if you're not careful, versus 786 00:34:33,120 --> 00:34:36,799 Speaker 1: now reputational risk. Right as small business owners, we want 787 00:34:36,840 --> 00:34:39,759 Speaker 1: to make sure our reputation is at the very top 788 00:34:39,800 --> 00:34:42,080 Speaker 1: of all of our focus and everything that we do, 789 00:34:42,400 --> 00:34:45,040 Speaker 1: because at the end of the day, if your reputation suffers, 790 00:34:45,080 --> 00:34:47,640 Speaker 1: your clients begin to suffer, your customers begin to suffer, 791 00:34:47,640 --> 00:34:50,760 Speaker 1: and the business suffers. And so just balancing that financial 792 00:34:50,840 --> 00:34:53,319 Speaker 1: risk and now that's sort of matured into a reputational 793 00:34:53,440 --> 00:34:56,640 Speaker 1: risk focused business model, I think is genius and I 794 00:34:56,640 --> 00:34:59,239 Speaker 1: think a lot of people are going to take away 795 00:34:59,239 --> 00:35:01,080 Speaker 1: some really really important editits around that. 796 00:35:01,440 --> 00:35:04,240 Speaker 2: There were a lot of gems dropped in this season, Opener. 797 00:35:04,400 --> 00:35:07,440 Speaker 2: I cannot wait to dive into the rest of our episodes, 798 00:35:07,640 --> 00:35:09,920 Speaker 2: but that's it for today. You can find me on 799 00:35:09,960 --> 00:35:12,359 Speaker 2: social media at Joketothenedo podcast and you. 800 00:35:12,320 --> 00:35:14,960 Speaker 1: Can find me at Austin Hankwitz. You can follow into 801 00:35:15,000 --> 00:35:18,160 Speaker 1: quick QuickBooks on all social media at QuickBooks. To get 802 00:35:18,160 --> 00:35:21,440 Speaker 1: the tools you need to start, run and grow your business, 803 00:35:21,560 --> 00:35:23,320 Speaker 1: head to QuickBooks dot com today. 804 00:35:23,520 --> 00:35:25,680 Speaker 2: Don't forget to follow this show wherever you listen to 805 00:35:25,719 --> 00:35:28,440 Speaker 2: podcasts so you can stay up to date on future episodes. 806 00:35:28,640 --> 00:35:30,279 Speaker 1: We also want to hear from you, so be sure 807 00:35:30,280 --> 00:35:32,520 Speaker 1: to leave us a rating and a review. See you 808 00:35:32,600 --> 00:35:38,719 Speaker 1: next time. Coming up on this season of Mind the 809 00:35:38,800 --> 00:35:41,440 Speaker 1: Business small business success stories. You don't want to be 810 00:35:41,680 --> 00:35:44,959 Speaker 1: scrambling and then realize that the website's not available or 811 00:35:45,040 --> 00:35:46,800 Speaker 1: your logo is copying somebody else. 812 00:35:47,040 --> 00:35:49,279 Speaker 5: At the beginning, we were diying it and it just 813 00:35:49,280 --> 00:35:52,120 Speaker 5: became so overwhelming with managing a food truck and also 814 00:35:52,160 --> 00:35:56,239 Speaker 5: a restaurant. But actually in QuickBooks they have a marketplace 815 00:35:56,320 --> 00:35:58,640 Speaker 5: where you can find a CPA final bookkeeper. 816 00:35:58,840 --> 00:36:00,920 Speaker 3: My biggest question was I, how can I grow this? 817 00:36:00,960 --> 00:36:02,759 Speaker 3: How can I scale this? How can I come down 818 00:36:02,760 --> 00:36:04,760 Speaker 3: on this? Like Wire supplies this this month. 819 00:36:04,840 --> 00:36:07,319 Speaker 4: If a client loves you or a customer loves you, 820 00:36:07,480 --> 00:36:08,680 Speaker 4: is always the five stars. 821 00:36:08,760 --> 00:36:10,799 Speaker 2: But if they will hate you, they will just hate 822 00:36:10,840 --> 00:36:12,960 Speaker 2: you everywhere and it will sting you. 823 00:36:13,480 --> 00:36:16,040 Speaker 4: AI is able to make it sound a little bit 824 00:36:16,080 --> 00:36:19,160 Speaker 4: warmer because there's no body language, there's no tone when 825 00:36:19,160 --> 00:36:20,000 Speaker 4: you're writing email. 826 00:36:20,200 --> 00:36:24,880 Speaker 5: They're the saying that success is when opportunity meets preparation. 827 00:36:25,400 --> 00:36:27,880 Speaker 1: So we've always been geared to grow. 828 00:36:28,160 --> 00:36:30,160 Speaker 4: I think once you're in it and it starts to 829 00:36:30,200 --> 00:36:33,680 Speaker 4: become your livelihood and there are people depending on you, 830 00:36:33,680 --> 00:36:35,160 Speaker 4: you're running payroll. 831 00:36:35,320 --> 00:36:37,000 Speaker 3: That's the hard part. 832 00:36:38,280 --> 00:36:41,760 Speaker 1: Money movement services are provided by Intoit Payments, Inc. Licensed 833 00:36:41,800 --> 00:36:44,040 Speaker 1: as a money transmitter by the New York State Department 834 00:36:44,080 --> 00:36:45,160 Speaker 1: of Financial Services. 835 00:36:45,680 --> 00:36:48,920 Speaker 2: This podcast is a production of iHeartMedia's Ruby Studio and 836 00:36:49,000 --> 00:36:52,359 Speaker 2: Into It QuickBooks. Our executive producer is Molly Sosha, Our 837 00:36:52,400 --> 00:36:56,200 Speaker 2: supervising producer is Nikiyah Swinton, and our writer is Eric Leja. 838 00:36:56,440 --> 00:36:58,719 Speaker 1: Our head of post production is James Foster, and our 839 00:36:58,760 --> 00:37:03,920 Speaker 1: mixing engineer is all Vitrulins of Audiography